The Diethyl Oxalate market is expected to grow at a CAGR of 7.0% by 2027. The North America region is expected to grow at the highest CAGR.
NEW YORK, USA, December 1, 2021 /EINPresswire.com/ – Based on our latest market research on “Global Diethyl Oxalate Market Forecast to 2027 – Impact of Covid-19 and Analysis Global – By Application, End-Use Industry & Shape “the market was valued at US $ 521.23 million in 2019 and is expected to reach US $ 891.93 million by 2027.
Market size value in – US $ 521.23 million in 2019
Market size value of – US $ 891.93 million by 2027
Growth rate – CAGR of 7.0% from 2020-2027
Forecast period – 2020-2027
Baseline year – 2020
Number of Pages – 134
Number of tables – 83
Number of graphs and figures – 77
Historical data available – Yes
Segments Covered – Application, End Use Industry and Shape
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
Country Scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Cover – Revenue Forecast, Company Rank, Competitive Landscape, Growth Factors & Trends
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Diethyl oxalate (C6H10O4) is also called oxalic acid diethyl ester, ethanedioic acid, diethyl ethanedioate and others. It is a white solid compound synthesized from carbon monoxide and ethanol. It is slightly denser than water and is insoluble in water. Diethyl oxalate is available in powder and liquid form. It is a colorless and toxic compound with a characteristic odor. It has important applications in various end user industries such as pharmaceuticals, agriculture and cosmetics. The compound is mainly used as a raw material or intermediate in the manufacture of phenobarbital and many dyes; it is also used as a solvent for natural and synthetic resins as well as in nitrocellulose lakes and various chemical synthesis processes. In addition, it is used as a chemical intermediate in the synthesis of active pharmaceutical ingredients. Diethyl oxalate is also used as an economical additive based on dye solar cells.
Use of diethyl oxalate in the agrochemical industry
Diethyl oxalate is used in the production of agrochemicals such as pesticides, fungicides and herbicides. The growth of agricultural practices has led to increased production of agrochemicals, which has fueled the expansion of the diethyl oxalate market. Explosive population growth demanding more food supply, increasing technological advancements in the agricultural industry, advances in plant breeding, limited availability of arable land and management expertise across the world are leading to increased use of crops. agrochemicals. The increasing adoption of intensive farming techniques to increase productivity per hectare is propelling the demand for manufacturing pesticides. Intensive farming techniques help meet the growing demand for food from the growing population and prevent food shortages. The increase in the use of fungicides, which are used to kill fungus spores and improve the quality of crops, is also positively affecting the expansion of the market. Therefore, to provide food for the growing population, farmers have to adopt various agrochemicals to increase production. This increase in adoption of agrochemicals will lead to its huge production, subsequently increasing the growth of Diethyl Oxalate market.
Impact of COVID-19 on the Diethyl Oxalate Market
The COVID-19 pandemic, which was first reported in Wuhan (China) in December 2019, has affected economies and industries due to lockdowns and travel bans imposed, as well as business closures. Chemicals and Materials is one of the major industries in the world suffering from severe disruption such as supply chain disruptions, cancellations of tech events and office closures as a result of this outbreak. It is also expected to impact global demand for diethyl oxalate products.
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Diethyl Oxalate Market: Application
The Diethyl Oxalate market, depending on the application, is segmented into perfumes and fragrances, colorant manufacturing, pharmaceutical intermediates, plasticizers and others. The dye manufacturing segment accounted for the largest share of the global diethyl oxalate market in 2019, and the mid-level pharmaceutical segment is expected to register the highest CAGR during the forecast period. Dyes are known as inorganic or organic, water soluble substances that reflect light. A dye is used as a coloring agent which changes the color of materials permanently. Dyes are mainly used to color fabrics. Some of the end-user industries that widely use dyes are textiles, leather, and paper. In addition, in the chemical industry, dyes also play an essential role in maintaining chemical uniformity.
Diethyl Oxalate Market: Competitive Landscape and Key Developments
Borsodchem MCHZ, SRO, Nanjing Chengyi Chemical Co., Ltd., Indian Oxalate Limited, Shandong Liangzou Mining Industry Group, Merck KgaA, Mudanjiang Hongli Chemicals, Tokyo Chemical Industry Co., Ltd., UBE INDUSTRIES, LTD., Vertellus Holdings LLC, and Zibo Xusheng Chemical Co., Ltd. are among the established players in the global diethyl oxalate market.
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